USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.90% against the JPY and closed at 110.26.
In the Asian session, at GMT0300, the pair is trading at 110.45, with the USD trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 109.91, and a fall through could take it to the next support level of 109.36. The pair is expected to find its first resistance at 111.03, and a rise through could take it to the next resistance level of 111.60.
Going forward, investors would focus on Japan’s leading and coincident indices data, scheduled in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
